Form 4: Hagerty Inc. Director Robert I. Kauffman Sells Class A Common Stock

Robert I. Kauffman, a director at Hagerty, Inc., executed multiple sales of Class A Common Stock between September 18 and September 20, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert I. Kauffman, a director of Hagerty, Inc. (HGTY), sold shares of Class A Common Stock on September 18, 19, and 20, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On September 18, 2024, 3,821 shares were sold at a weighted average price of $11.2, with prices ranging from $11.14 to $11.24.
• On September 19, 2024, 2,318 shares were sold at a weighted average price of $11, with prices ranging from $10.94 to $11.11.
• On September 20, 2024, 5,404 shares were sold at a weighted average price of $10.7, with prices ranging from $10.61 to $10.89.
• Following these transactions, Robert I. Kauffman directly owns 53,474 shares and indirectly owns 5,156,835 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the shares held by Aldel LLC except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports insider trading activity, which is a normal part of the market. The sales are conducted under a pre-arranged plan, mitigating concerns about negative sentiment.

Risks

• Continued sales by insiders could exert downward pressure on the stock price.

Industry Context

Insider sales are a common occurrence and are often viewed in the context of the individual's financial planning rather than a reflection of the company's prospects.

Stakeholder Impact

• The sales could create short-term downward pressure on the stock price, potentially impacting shareholders.

Key Dates